Jane Street Group LLC Boosts Stake in Magnolia Oil & Gas Corp $MGY

Key Points

• Jane Street Group LLC significantly increased its position in Magnolia Oil & Gas Corp by 1,382.9% during the first quarter, owning over 1 million shares valued at approximately $26.76 million.
• Magnolia Oil & Gas reported a net income of $0.43 earnings per share, surpassing analysts' expectations, but experienced a 5.3% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.15, translating to an annualized yield of 2.4% with a dividend payout ratio of 31.41%.

Jane Street Group LLC grew its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 1,382.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,059,335 shares of the company's stock after acquiring an additional 987,896 shares during the period. Jane Street Group LLC owned about 0.55% of Magnolia Oil & Gas worth $26,759,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Campbell & CO Investment Adviser LLC acquired a new position in shares of Magnolia Oil & Gas in the first quarter worth about $1,273,000. Oliver Luxxe Assets LLC raised its position in shares of Magnolia Oil & Gas by 7.7% during the 1st quarter. Oliver Luxxe Assets LLC now owns 94,377 shares of the company's stock worth $2,384,000 after purchasing an additional 6,753 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Magnolia Oil & Gas by 34.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company's stock worth $128,000 after purchasing an additional 1,295 shares during the last quarter. Osterweis Capital Management Inc. raised its position in shares of Magnolia Oil & Gas by 33.5% during the 1st quarter. Osterweis Capital Management Inc. now owns 641,637 shares of the company's stock worth $16,208,000 after purchasing an additional 161,125 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth about $506,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Up 1.3%

Shares of Magnolia Oil & Gas stock traded up $0.32 during mid-day trading on Tuesday, hitting $25.20. The stock had a trading volume of 809,759 shares, compared to its average volume of 2,625,378. The firm has a 50-day moving average of $23.60 and a two-hundred day moving average of $23.00. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $29.02. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.81 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 3.28 and a beta of 1.33.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The business had revenue of $318.98 million during the quarter, compared to analysts' expectations of $311.58 million. During the same quarter in the prior year, the company posted $0.51 EPS. The business's revenue for the quarter was down 5.3% on a year-over-year basis. Sell-side analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.4%. Magnolia Oil & Gas's dividend payout ratio is 31.41%.

Analyst Upgrades and Downgrades

MGY has been the subject of several research analyst reports. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Piper Sandler upped their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Wells Fargo & Company reduced their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a research report on Monday, June 16th. William Blair initiated coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an "outperform" rating for the company. Finally, UBS Group restated a "buy" rating and set a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $26.67.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.